The research report provides an in-depth evaluation of the Global Automotive Refinish Coatings Market is expected to reach USD 11.69 Billion by 2027, according to a new report by Emergen Research. The market for automotive refinish is growing due to the rise in disposable income, change in lifestyle and buying behaviour of the consumers, and the growing demand for luxury vehicles.
The changing lifestyle and buying behaviour of people, a rise in disposable income, and the growing demand for luxury vehicles are some the factors influencing the market growth.
Automotive refinish coatings are used by market players to address the growing need for maintenance of the vehicle, up-to-date servicing to improve the durability and look of the vehicles by protecting them from any supposed damages and UV radiation. Constant investment in RD and innovation in refinish coatings, such as eco-friendly high-tech coating materials, which is another driving factor of the market.
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Key questions answered in the report
What will be the market size in terms of value and volume in the next five years?
Which segment is currently leading the market?
In which region will the market find its highest growth?
Which players will take the lead in the market?
What are the key drivers and restraints of the market’s growth?
The report also discusses the key players involved in the market such as
- Key participants include The Sherwin Williams Company, PPG Industries Inc., Axalta Coating Systems Ltd., BASF SE, AkzoNobel N.V, Kansai Paints Co. Ltd., Matrix System Automotive Finishes, Nippon Paint Holding Co. Ltd., Mitsui Chemicals, and Berger Paints India Ltd., among others.
Key insights presented in the report:
Market revenue shares by major business players, by type, by application, and market scope of global Automotive Refinish Coatings market
Sales revenue by key players and new entrants
Competitive analysis of the key players including aspects such as company overview, product or services specification, vendors, and buyers.
Recent mergers, acquisitions, product launches, recent investments, and joint ventures
Regional analysis to provide insight to recent trends and opportunities
The report also covers the scope of individual applications and types in each region. The report also covers details about production and consumption patterns, technological developments, revenue growth, market size, market share, key trends and demands influencing market growth in the region, and robust presence of key players in the region.
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Key Highlights From The Report
- Clear coats, offer protection to the paint on vehicles from sun, dust, or water, hold the largest share of the market in 2019. The segment is expected to have a growth rate of 3.9% during the forecast period.
- Metal substrates held the largest share in 2019 and are expected to lead the segment throughout the forecast period with a significant CAGR since metal surfaces are prone to suffer from corrosion.
- The passenger vehicles segment dominated the market with 40.3% of the share in 2019, in terms of revenue. The demand is expected to increase because of high disposable incomes, substantially changing buying behaviour, and demand for luxury cars.
- The Asia Pacific region, mainly China, Japan, and India, has witnessed the expansion of its automotive industry owing to the high demand for commercial and passenger vehicles, increased population and congestion, which, in turn, has led to the growth of the market in the region.
Emergen Research has segmented the Global Automotive Refinish Coatings Market on the basis of resin product, type, technology, application, substrate, and region:
- Resin Type Outlook (Revenue, USD Billion; 2017-2027)
- Epoxy
- Alkyd
- Polyurethane
- Others
- Product Outlook (Revenue, USD Billion; 2017-2027)
- Primer
- Basecoat
- Clearcoat
- Activator
- Filler
- Putty
- Technology Outlook (Revenue, USD Billion; 2017-2027)
- Solvent-borne Coatings
- Water-borne Coatings
- UV-cured Coatings
- Substrate Outlook (Revenue, USD Billion; 2017-2027)
- Glass
- Metal
- Plastic
- Other
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Commercial vehicles
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
- Passenger vehicles
- Compact
- Executive
- Luxury
- Two-Wheeler
Regional Outlook: (Revenue, USD Billion; 2018-2028)
North America (U.S.) (Canada) (Mexico)
Europe (Germany) (UK) (France) (BENELUX) (Rest of Europe)
Asia Pacific (China) (Japan) (South Korea) (Rest of APAC)
Latin America (Brazil) (Rest of LATAM)
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Table of Contents:
Chapter 1 includes an introduction of the global Automotive Refinish Coatings Market, along with a comprehensive market overview, market scope, product offerings, and an investigation of the market drivers, growth opportunities, risks, restraints, and other vital factors.
Chapter 2 offers an in-depth analysis of the key manufacturers engaged in this business vertical, along with their sales and revenue estimations.
Chapter 3 elaborates on the highly competitive terrain of the market, highlighting the key manufacturers and vendors.
In Chapter 4, our team has fragmented the Automotive Refinish Coatings market on the basis of regions, underscoring the sales, revenue, and market share of each region over the forecast timeline.
Chapters 5 and 6 have laid emphasis on the Automotive Refinish Coatings market segmentation based on product type and application
Thank you for reading our report. Please get in touch with us if you have any query regarding the report or its customization. Our team will ensure the report is best suited to your needs.
Look Over transcripts provided by Emergen Research
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